Charter Partners USA Inc., a Hampton, N.J.-based creator of insurance purchasing groups for middle-market risks, announced that the Regional Alliance of Metalcasters has been formed as a new membership group.
The Regional Alliance of Metalcasters (RAM) is an organization of seven metalcasting manufacturers organized in the Mid-Atlantic and facilitated by York, Pa.-based The Glatfelter Agency, a member of the Charter Partners network of agents.
By forming a network of select independent agents, Charter Partners acts as a general underwriter for groups of middle-market accounts in the same type of business in a particular region. Member premium in each group is aggregated, and members receive the services and benefits that a much larger competitor normally would receive because the group’s combined premium is equal to or exceeds that of a much larger company.
The membership groups reduce their insurance costs by carefully selecting members, getting involved financially, unbundling services, and having more influence over loss control and claims. Over a period of time, the group develops its own loss experience, although risks are rated individually within the group.
Cliff Germano, national marketing director for The Glatfelter Agency, stated that working with the RAM group gives them the opportunity to work with all of their clients in a forum in which they drive the process with their own experience and expertise.
The Glatfelter Agency worked on the research and development of this group for two years to gain an understanding of the metalcasting industry and to move methodically through the process of becoming a Charter Partners Membership Group.
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